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Industry participation

Industry participation

Informing on and supporting BlueBay’s ESG investment framework both at the firm-level and Fund / strategy-level are our collaborations and partnerships with ESG investment related industry bodies and initiatives.

Our commitment is to evolve our practices in line with industry best practice, and to actively input and share insights in terms of what this looks like.

We have summarised some of the key ongoing ESG investment related partnerships and affiliations BlueBay is involved with.

(The) Alternative Investment Management Association (AIMA)

As AIMA members, we input into their ESG investment related initiatives via their Responsible Investment working group, and any further issue specific working groups. Since early 2019, this has involved providing input into AIMA responses to public ESG investment related consultations with regulators, as well as AIMA ESG research and briefings, and panel participation in AIMA convened ESG events.

CDP

BlueBay became a CDP (formerly the Carbon Disclosure Project) investor signatory in December 2016 to show support for increased corporate environmental public disclosure as such information is critical to ensuring informed investment analysis of credit relevant environmental risk factors where this is material for an issuer. CDP has gathered the largest global collection of self-reported environmental information by leveraging the power of shareholder and lenders to help increase disclosure from companies. Specifically, we have signed up to the following programmes:

Climate change

Water

Forests

Carbon action

Climate Action 100+

This global investor initiative was launched in 2017 to engage with the world’s largest corporate greenhouse gas emitters on their climate change practices. Specifically, it focuses on encouraging companies to curb their emissions, improve their governance practices, and strengthen climate-related financial disclosures. BlueBay joined the initiative in March 2020

(The) Emerging Markets Investor Alliance

BlueBay joined this initiative during March 2020. The Alliance was started in 2010 and aims at enabling institutional emerging market investors to support good governance, promote sustainable development, and improve investment performance in the governments and companies in which they invest. It convenes various working groups which BlueBay is looking to get involved in going forward.

(The) European Leveraged Finance Association (ELFA)

As an ELFA member, BlueBay formally joined their ESG Committee during December 2019, and in this capacity has supported and led on specific initiatives, including the investor ESG survey and associated briefing, and the subsequent initiative to encourage issuer ESG disclosure.

Green Bond Transparency Platform (GBTP)

The Inter-American Development Bank (IDB) announced the creation of the Green Bond Transparency Platform (GBTP) in December 2019, an innovative digital tool that brings greater transparency to the Latin American and Caribbean green bond market. The platform is currently in its testing stage with official launch scheduled for 2020. BlueBay is a supporter of the GBTP, and has been providing input to the pilot for the platform.

(The) Investment Association

The IA represents investment managers in the UK. As a member of their Sustainability Distribution Group, we input into their ESG investment related activities such as AIMA responses to public consultations with regulators and other bodies. During February 2020, we joined their Responsible Investment Fund-Level Communication Working Group.

The Principles for Responsible Investment (PRI)

BlueBay became a signatory to the (UN-supported) PRI in July 2013. Founded in 2005, it is the world’s leading proponent of responsible investment and works to support its global network of investor signatories in incorporating ESG factors into their investment and stewardship decisions. We are actively involved in a number of the ESG fixed income working groups, as well as their collaborative engagement initiatives which have ranged from focusing on specific issues (e.g. cyber risk), to specific sectors (e.g. tailings dam management in extractives sector) to company specific engagement.

The Standards Board for Alternative Investments (SBAI)

As a member of SBAI, BlueBay joined the Responsible Investment Working Group in March 2020 which aims to help institutional investors and alternative investment managers better understand how RI can be applied in different alternative investment strategies, as well as the specific challenges and questions that arise in these contexts. There are a few specific workstreams we participate in which are being pursued as part of the Working Group’s activities.

(The FSB) Task Force on Climate Related Financial Disclosures (TCFD)

In March 2020, BlueBay signed on as a TCFD investor supporter, formerly signalling our support for this initiative aimed at developing voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to investors as well as other stakeholders.

Verisk Maplecroft

Verisk Maplecroft currently provides sovereign ESG data services for BlueBay. Beyond this over the last couple of years, we have been collaborating on a research project with Verisk Maplecroft on the role of ESG in sovereign debt investing. We published a paper on the initial phase of the collaboration in 2019 which looks at conducting some back-testing analysis to determine investment materiality of ESG factors. Based on the findings, we are currently working to identify priorities to take forward for further analysis.

NOTE: BlueBay forms part of RBC Global Asset Management, which is itself part of the parent company, Royal Bank of Canada (RBC). RBC Global Asset Management itself is also part of various ESG investment related industry groups, including some that BlueBay has listed.